Paramount Resources Ltd. (TSE:POU – Get Free Report) reached a new 52-week high during mid-day trading on Monday. The company traded as high as C$34.93 and last traded at C$34.87, with a volume of 266,827 shares trading hands. The stock had previously closed at C$34.02.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Paramount Resources from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Scotia lifted their price target on shares of Paramount Resources from C$34.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. ATB Cormark Capital Markets lifted their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada lifted their price objective on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Paramount Resources currently has an average rating of “Moderate Buy” and a consensus price target of C$34.35.
Paramount Resources Stock Performance
The company has a current ratio of 1.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. The company has a market cap of C$5.09 billion, a price-to-earnings ratio of 44.69, a P/E/G ratio of 0.14 and a beta of -0.16. The stock’s 50 day moving average price is C$31.86 and its 200 day moving average price is C$30.27.
Paramount Resources (TSE:POU – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. Paramount Resources had a return on equity of 4.30% and a net margin of 11.19%. The firm had revenue of C$317.90 million during the quarter. On average, analysts expect that Paramount Resources Ltd. will post 1.41 EPS for the current fiscal year.
Paramount Resources Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 15th. Paramount Resources’s payout ratio is 76.92%.
About Paramount Resources
Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.
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